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but going over the fiscal cliff is serious business. and i'm here seriously trying to resolve it. and i would hope the white house would get serious as well. paul. [ inaudible question ] meeting with secretary geithner or your phone call with president obama last night. could you tell us something about that phone call? >> well, we had a very nice conversation last night. it was direct. and straight forward. but this assessment i give you today would be a product of both of those conversations. >> how much would you be open to the idea of discretionary spending cuts as part of a down payment to get to a longer-range solution on entitlements and tax reform? >> there are a lot of options on the table, including that one. >> mr. speaker, before the election, you were asked whether if it obama won taxes would have to go up. and you sounded like you opposed that. now you're acknowledging that they will. >> the day after the election, i came here and made it clear that republicans would put revenue on the table. as a way to begin to move the process to get this resolved. >> right. so my
but going over the fiscal cliff is serious business. and i'm here seriously trying to resolve it. and i would hope the white house would get serious as well. paul. [ inaudible question ] meeting with secretary geithner or your phone call with president obama last night. could you tell us something about that phone call? >> well, we had a very nice conversation last night. it was direct. and straight forward. but this assessment i give you today would be a product of both of those...
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but going over the fiscal cliff is serious business. and i'm here seriously trying to resolve it. and i would hope the white house would get serious, as well. >> all right. so once again, here are the cliff notes right here. republicans on the hill are demanding trillions of dollars worth of debt reduction. that's pretty much fine with democrats who say the wealthy should foot the bill in the form of higher tax rates. and therein lies the catch because the republicans want the savings of federal spending cuts. that dispute blocking efforts to keep rates from rising on everyone. as scheduled on january 1st. this is a so-called fiscal cliff. january 1st. our news makers representative jim clyburn of south carolina, number three democrat in the house of representatives and number one i'm sure to a lot of people. hello. how are you? >> hey, don. thank you so much for having me. >> thanks for coming on. is speaker boehner right, though? as the clock is ticking, ticking toward january 1st, the talks haven't progressed in two weeks. is he right? >> well, i don't know that i'm as disappoi
but going over the fiscal cliff is serious business. and i'm here seriously trying to resolve it. and i would hope the white house would get serious, as well. >> all right. so once again, here are the cliff notes right here. republicans on the hill are demanding trillions of dollars worth of debt reduction. that's pretty much fine with democrats who say the wealthy should foot the bill in the form of higher tax rates. and therein lies the catch because the republicans want the savings of...
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Nov 30, 2012
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and even as a small business person, everyone talks about what the fiscal cliff could do to small business, what obama care can do for small business, but you said we shouldn't worry about that so much, that we should get some sort of compromise in order to keep moving and keep talking and keep moving forward? >> well, i think that it was pretty clear during the course of the election and since and even in the president's speech today where he said he's willing to give on some revenue and some spending cuts, he's proposed some, he's already passed some into law. and beyond that, just from my perspective, what i see is that we know that we're a confidence-based economy, we're 70% of the economy driven by consumer spending and anything that puts a crimp in consumer spending is not good for the economy. so to put a tax rise, a tax rate increase for the middle class makes no sense to me. someone who makes 50, 60, $70,000 a year will lose and will take away a lot of discretionary purchases from people like me and travel and a whole host of other areas. i hope our leaders in washington are liste
and even as a small business person, everyone talks about what the fiscal cliff could do to small business, what obama care can do for small business, but you said we shouldn't worry about that so much, that we should get some sort of compromise in order to keep moving and keep talking and keep moving forward? >> well, i think that it was pretty clear during the course of the election and since and even in the president's speech today where he said he's willing to give on some revenue and...
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while the fiscal cliff battle plays out, campaign politics marches on. >> i want to help create a better united states. we're months removed from the 2012 election, but governor rounds is looking forward to 2017. while 2014's a long way away, 2013 is just beyond the horizon, that's when chris christie -- >> i don't want to leave now. we have a job to do. that job won't be finished by next year. >> it may be the holiday season, but it seems there is no holiday from campaign politics. >> thanks, paul. >>> well, the priority for congress and the white house tomorrow, making head way on the fiscal cliff. and stopping automatic spending cuts and instant tax hikes from hitting every american. negotiations between the who is and congress has stalled, john boehner calling it a stalemate. there are 30 days to go. charles, draw me a picture, how does this end? is staking out their positions, and really coming and enjoying the ring around the area where they are lease protecting where they want to advance, so the presidents and the democrats are basically outlining the increased revenue side of the
while the fiscal cliff battle plays out, campaign politics marches on. >> i want to help create a better united states. we're months removed from the 2012 election, but governor rounds is looking forward to 2017. while 2014's a long way away, 2013 is just beyond the horizon, that's when chris christie -- >> i don't want to leave now. we have a job to do. that job won't be finished by next year. >> it may be the holiday season, but it seems there is no holiday from campaign...
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cliff is serious business. and i'm here seriously trying to resolve it. and i would hope the white house would get serious as well. >> speaker boehner made very clear at his press conference that he thinks the ball is in your court and the president's court. he says democrats have got to get series about spending cuts. where is the disconnect? >> i don't understand his brain so you should ask him. okay? >> reid making those comments to our own kate bolduan. i'm joined by dan lothian. dan, we're learning more about the white house plan to deal with the fiscal cliff. break it down for us. >> reporter: right. this is the plan that secretary -- treasury secretary timothy geithner took up to capitol hill yesterday. it calls for $1.6 trillion in tax increases over a ten-year period more than republicans had anticipated. in addition to that, $400 billion in spending cuts that will come later. much of that not really specified. we're looking at entitlements such as medicare. and then the plan also includes $50 billion
cliff is serious business. and i'm here seriously trying to resolve it. and i would hope the white house would get serious as well. >> speaker boehner made very clear at his press conference that he thinks the ball is in your court and the president's court. he says democrats have got to get series about spending cuts. where is the disconnect? >> i don't understand his brain so you should ask him. okay? >> reid making those comments to our own kate bolduan. i'm joined by dan...
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get their act together and deal with the fiscal cliff. brace yourself for a job number that could be even lower than the already weak forecast. i hope i am wrong about that. from the cnn money newsroom in new york, i'm ali velshi. that's it from me. same time tomorrow. i plugged in snapshot, and 30 days later, i was saving big on car insurance. with snapshot, i knew what i could save before i switched to progressive. the better i drive, the more i save. i wish our company had something this cool. you're not filming this, are you? aw! camera shy. snapshot from progressive. test-drive snapshot before you switch. visit progressive.com today. plays a key role throughout our lives. one a day men's 50+ is a complete multivitamin designed for men's health concerns as we age. it has 7 antioxidants to support cell health. one a day men's 50+. it has 7 antioxidants to support cell health. social security are just numbers thinkin a budget.d... well, we worked hard for those benefits. we earned them. and if washington tries to cram decisions about th
get their act together and deal with the fiscal cliff. brace yourself for a job number that could be even lower than the already weak forecast. i hope i am wrong about that. from the cnn money newsroom in new york, i'm ali velshi. that's it from me. same time tomorrow. i plugged in snapshot, and 30 days later, i was saving big on car insurance. with snapshot, i knew what i could save before i switched to progressive. the better i drive, the more i save. i wish our company had something this...
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something called the fiscal cliff, which i know you have been watching. you're very closely aligned with president obama having been the chair of the democratic national convention in september. i want to get your take on this. this is critical to your state. businesses in your state. taxpayers in your state. do you have any optimism that we may not go off the cliff? >> i do have optimism. there's no question about it. i think both sides understand that it's not in the nation's best interest for us to go off this cliff. people are tired of the partisanship. they want both sides to work together. they want them to do so in a balanced way. i agreed to join the stirring committee to fix the debt coalition and i have because the balance is that we have to make spending cuts. we have to address entitlements but we also have to make sure that we have the revenues that we need to make the investments that we need. education. infrastructure. transportation. research and development. workers training. all of those things are important things that we have to do. we
something called the fiscal cliff, which i know you have been watching. you're very closely aligned with president obama having been the chair of the democratic national convention in september. i want to get your take on this. this is critical to your state. businesses in your state. taxpayers in your state. do you have any optimism that we may not go off the cliff? >> i do have optimism. there's no question about it. i think both sides understand that it's not in the nation's best...
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the optics of republicans leaving today, wednesday, with two days left in the week with the fiscal cliff not too far away certainly may be questionable. what they insist is that their members are going to go back home and talk to their businesses and small business leaders to maybe play the outside in-game that the president has been playing by trying to rally support for his side of this issue. >> dana bash, reporting live from capitol hill. >>> also, right now, brefing congress about exactly what happened in benghazi. every single members of the house of representatives, all 400 plus of them were invited. so elise, this is a multimedia presentation. so is it a power point on benghazi? >> reporter: well, carol, the members are just starting to arrive right now. they will be meeting in this room right here, this auditorium. minority leader nancy pelosi just arrived. basically, it's going to be very similar to the briefing that some of the members of the intelligence committees, armed services committee, the leadership, those classified briefings already took place with a very specific le
the optics of republicans leaving today, wednesday, with two days left in the week with the fiscal cliff not too far away certainly may be questionable. what they insist is that their members are going to go back home and talk to their businesses and small business leaders to maybe play the outside in-game that the president has been playing by trying to rally support for his side of this issue. >> dana bash, reporting live from capitol hill. >>> also, right now, brefing congress...
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. >>> the fight over the fiscal cliff is having an affect on small businesses right now. just as congress, the people running those businesses, they're not agreeing on a solution, but poppy harlow, she's got the perspective from the folks who are suffering. >> if any company, any business did the method of accounting as the government sdshgs we would be in jail. >> you sound like you've had it? >> yes, basically i have. >> debt is a cancer. that's what bob told me when we met him at his limousine company in freehold, new jersey. stoo here's the reservations. staffed 24 hours a day. >> reporter: he started the business back in 1984. today he has a staff of 75. 53 cars. one big question. >> i just want congress to tell me to come up with what the boundaries are so i know -- i know how to run my business. i know how to plan. >> he has laid off four employees in the last six months. he says the business made it through the stock market crash of 1987, the savings and loan crisis, and 9/11 with no decline in revenue until the financial crisis of 2008 and now this. >> could more
. >>> the fight over the fiscal cliff is having an affect on small businesses right now. just as congress, the people running those businesses, they're not agreeing on a solution, but poppy harlow, she's got the perspective from the folks who are suffering. >> if any company, any business did the method of accounting as the government sdshgs we would be in jail. >> you sound like you've had it? >> yes, basically i have. >> debt is a cancer. that's what bob told...
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one of the culprits was clearly the uncertainty for business that has been created by this fiscal cliff threat, orders for new goods are flat. factories are cutting workers. this can be fixed. it is reversible. but the signs are clear that the damage is being done. quite a different story by the way over in china where manufacturing output, which had been slowing, picked up in november. it had months of slowdown. now, back to washington. what are the chances that lawmakers in washington will act in time to avert the fiscal cliff? if you go by what both sides are saying right now, not great. >> what we're not going to do is extend the tax cuts for the wealthiest americans. those cost a trillion dollars over ten years and there is no possibility that we're going to find a way to get our fiscal house in order without the tax rates going back up. >> nobody wants to go over the cliff. that's why the day after the election i tried to speed this process up by making the concession to put revenues on the table. and it is unfortunate that the white house spent three weeks doing basically nothing
one of the culprits was clearly the uncertainty for business that has been created by this fiscal cliff threat, orders for new goods are flat. factories are cutting workers. this can be fixed. it is reversible. but the signs are clear that the damage is being done. quite a different story by the way over in china where manufacturing output, which had been slowing, picked up in november. it had months of slowdown. now, back to washington. what are the chances that lawmakers in washington will...
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cliff. guess what, the white house rejected it, calling the gop proposal unbalanced and not serious. translation? no tax hikes on the wealthy so democrats said forget about it. we thought you should take a look. it totals $2.2 trillion in deficit reduction over ten years. the part that stood out to us was $600 billion in proposed savings in medicare reforms. how? in part by raising the age of eligibility to 65 to maybe 67. turning down the gop proposal, dan pfieffer said, quote, it provides no details on which deductions they would eliminate, which loopholes they will close or which medicare savings they would achieve." let's head now to the white house and dan lothian. the white house will not offer a counter proposal, right? what's going on here? >> reporter: well, you know, i think the white house is digging in. the president said early on in this process that he would only sit down and really move forward, negotiate on this in any meaningful way if the tax hikes for the wealthy expired.
cliff. guess what, the white house rejected it, calling the gop proposal unbalanced and not serious. translation? no tax hikes on the wealthy so democrats said forget about it. we thought you should take a look. it totals $2.2 trillion in deficit reduction over ten years. the part that stood out to us was $600 billion in proposed savings in medicare reforms. how? in part by raising the age of eligibility to 65 to maybe 67. turning down the gop proposal, dan pfieffer said, quote, it provides no...
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. >>> but first, the president has a plan to avoid the fiscal cliff. but republican house speaker john boehner dismisses it as, and i'm quoting, la la land. the republicans offered their proposal, that happened about 24 hours ago. the white house quickly labels it as nothing new. business as usual, right? so how do we move beyond this stalemate in washington? we heard from the president, just a short time ago. our chief white house correspondent jessica yellin joins me now, jessica, the president spoke out, sat down in an interview with bloomberg tv, and in listening to the interview, did you hear any clues toward a possible compromise here? >> reporter: not new clues, brooke. the president laid down the marker that we heard from the white house consistently, which is they aren't moving until they hear the republicans agree to raise tax rates on the wealthiest. listen to what the president had to say. >> i think that, you know, we have the potential of getting a deal done, but it is going to require what i talked about during the campaign, which is a b
. >>> but first, the president has a plan to avoid the fiscal cliff. but republican house speaker john boehner dismisses it as, and i'm quoting, la la land. the republicans offered their proposal, that happened about 24 hours ago. the white house quickly labels it as nothing new. business as usual, right? so how do we move beyond this stalemate in washington? we heard from the president, just a short time ago. our chief white house correspondent jessica yellin joins me now, jessica,...
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having a fiscal cliff situation, going on inside the beltway, has a rippling reprecussions for people outside the beltway. we heard stories from people like ruthy who shared with us that her husband is a small business owner. he runs a catering company. because of the economic downturn, he has had fewer clients, which has meant they cannot make ends meet on her salary at a nonprofit and his salary to raise their two children, and, in fact, their phone was recently turned off. they're very concerned about having to pay more taxes just because congress can't end this fiscal cliff fiasco. >> you might have misunderstood the question. what do you think the mom kz do? what do you think, you know, families can do or should be doing to try to help the situation, obviously, because you've got some people who argue, well, you know, maybe there ought to be major cuts when it comes to medicare or medicaid or reforming social security, that kind of thing? >> well, we absolutely 1150% are hearing from moms across the country that it is not the time to cut medicaid. it is not the time to cut medica
having a fiscal cliff situation, going on inside the beltway, has a rippling reprecussions for people outside the beltway. we heard stories from people like ruthy who shared with us that her husband is a small business owner. he runs a catering company. because of the economic downturn, he has had fewer clients, which has meant they cannot make ends meet on her salary at a nonprofit and his salary to raise their two children, and, in fact, their phone was recently turned off. they're very...
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as issues like the fiscal cliff, unemployment and the deficit loom. but while there will be several openings in the obama cabinet for the second term, white house press secretary jay carney says romney is unlikely to fill them. >> is governor romney here tomorrow in some kind of cabinet-level position? some kind of audition for that position? >> no. >> reporter: and some think president obama could be aiming a little higher than a cabinet post. >> and after three weeks of dealing with the benghazi scandal, and the fiscal cliff, obama is prepared to offer romney a position in the administration, president of the united states. [ laughter ] he's like, i made a mistake. it's all yours. why, thank you. >> reporter: all jokes aside, this meeting of the political minds could be beneficial for both men. for the president, it is a chance to show he's put a tough campaign behind him. and is taking a bipartisan approach to his second term. and for romney, it's an opportunity to rehabilitate his image, which took a hit shortly after the ballots were counted, tha
as issues like the fiscal cliff, unemployment and the deficit loom. but while there will be several openings in the obama cabinet for the second term, white house press secretary jay carney says romney is unlikely to fill them. >> is governor romney here tomorrow in some kind of cabinet-level position? some kind of audition for that position? >> no. >> reporter: and some think president obama could be aiming a little higher than a cabinet post. >> and after three weeks...